AJIT BANIK Vs. TEESTA TORSA CHEMICALS PRIVATE LIMITED

JUDGEMENT

(1.) The present petition is filed by the petitioner invoking various provisions of the Companies Act, 1956 alleging certain acts of oppression and mismanagement in the affairs of the respondent No. 1, company and sought various reliefs.

(2.) The company is in the nature of Partnership between four people, i.e. the petitioner and the respondent Nos. 2, 3 and 4. The respondent No. 2 is one of the brothers of the petitioner, respondent No. 3, is a cousin of the petitioner and the respondent No. 4 is a family friend of the petitioner. At the time of incorporation, all the tour shareholders had 25000 shares each. The petitioner along with the respondent Nos. 2, 3 and 4 have always been the Directors of the company since its incorporation till the petitioner was illegally removed from the board of Directors on December 24, 2013.

(3.) The Company is a manufacturer of fertilizers by the name of "Sabuj Sona". The factory unit is situated on the land belonging to the petitioner's wife. The petitioner's wife has allowed the company to use her land and set up the factory unit without any consideration whatsoever.